The Loar Group also owns AGC in Meriden, which once had more than 300 employees.

JLL Partners has raised $4.4 billion in the past 27 years for acquisitions and investments in its companies. The Loar Group owns factories in South Dakota and Washington State as well as Connecticut.

Steve Fournier, chief executive officer of Gar Kenyon, said in a written statement: "I am very pleased to transition ownership and management of Gar Kenyon to the Loar Group. Loar is an outstanding organization with a strong track record of driving growth of its business units while working together with its customers to provide high quality aerospace components. I look forward to watching Gar Kenyon continue to grow under the leadership of the Loar management team."